Sudha Pillai panel submits report on KIIFB

A committee headed by retired IAS officer Sudha Pillai for examining the existing framework of the Kerala Infrastructure Investment Fund Board (KIIFB) and suggesting a ‘comprehensive restructuring plan’ has submitted its report to the State government.

The report, which was taken up in Wednesday’s weekly Cabinet meeting, will be laid in the State Legislative Assembly on Thursday.

The terms of reference of the panel included recommending measures for restructuring KIIFB, redeploying its institutional capacities within the government, and laying out future courses of action regarding subsidiary or spin-off entities established by KIIFB.

In July, the Finance department had noted that the government had decided to undertake a comprehensive review of the institutional, financial, governance and operational framework of KIIFB for “strengthening its long-term sustainability, improving governance standards and enhancing its capacity to support the State’s infrastructure development.”

Panel members included Shyam Srinivasan, former managing director and chief executive officer, Federal Bank; Nilesh Vikamsey, former chairman, Association of Chartered Accountants of India and partner, KKC and Associates; retired IAS officer H. Shubhalakshmi Narayanan, former director, Audit Board of the Comptroller and Auditor General of India; and retired IAS officer Tarun Bajaj, former Revenue Secretary, Government of India.